ASPI to Exchange Subsidiary's $109.2M Convertible Notes for 23.2M Common Shares

ASP Isotopes Inc. (ASPI) has entered into agreements to exchange approximately $109.2 million of 8.0% convertible promissory notes issued by its subsidiary, Quantum Leap Energy LLC (QLE), for newly issued shares of ASPI common stock. This transaction is intended to reduce QLE's outstanding convertible debt by approximately 50% and simplify its capital structure as QLE pursues a potential separate public listing.

Key Details

• Transaction Terms: Noteholders will exchange ~$109.2 million in principal amount of QLE convertible notes, plus accrued interest, for an aggregate of 23,160,682 shares of ASPI common stock.
• Financial Impact: Following the exchange, the outstanding principal of the QLE notes is expected to be reduced to approximately $110.7 million.
• Timeline: The agreement was signed on July 15, 2026, and the transaction is expected to close on July 16, 2026.